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Apple's lead is slimming, however; the Silicon Valley giant had 57 percent of operating profit in the first quarter, compared to Samsung's 43 percent. The largest negative share of the industry operating loss for the second quarter came from Motorola, which was 2 percent, Walkley noted.

The analyst estimates that Samsung shipped 72.5 million smartphones last quarter, up from 69.7 million in Q1. Walkley expects leading smartphone suppliers will benefit from LTE smartphone sales growth in Western markets and global upgrades from feature phones to 3G smartphones in the coming months.

Click here for the analyst's list of hottest selling smartphones at AT&T, Verizon, Sprint and T-Mobile last quarter.